Ikea’s new boss Gillian Drakeford aims to double the UK business by 2020 by opening more stores and pushing digital growth.
Drakeford, who took the helm in the summer, wants to double Ikea’s market share in the UK from about 6% to 12%.
She told the Telegraph: “We have been in the UK for 26 years, but we have only really been scratching at the surface in terms of market share and the position we have. At times we have been seen as a player on the side, rather than the main player.
“I see a tremendous opportunity here. I’ll be clear, we can double our market share with the steps we are taking.”
Drakeford said that while Ikea was well known in the UK it was not “accessible” enough and had to become more “relevant” to shoppers.
Ikea is planning three more stores, one each in Reading, Sheffield and Exeter. Drakeford highlighted online as an opportunity. The channel accounts for less than 10% of sales at present.
However, she remained cautious on the outlook and said that talk of an economic recovery was largely “hype” based on signs of a revival in the housing market, and that many customers outside London were still struggling.
Drakeford has worked for Ikea since the late 1980s and was most recently heading the furniture giant’s China business. Ikea’s Beijing store is the most visited Ikea shop in the world.